Senate Republicans believe they are one or two votes away from passing new healthcare legislation that would fulfil a seven-year campaign promise to repeal and replace the Affordable Care Act.
The bill, authored by GOP Senators Bill Cassidy and Lindsey Graham, would effectively shift Obamacare funding to state block grants; allowing individual states to decide how and where to spend the funds.
The legislation would need to come to a vote before a September 30th deadline to take effect.
“We are thinking that we can get this done by Sept. 30,” said Sen. Cassidy. “I’m pretty confident we’ll get there on the Republican side.”
The legislation would transform Obamacare subsidies and Medicaid expansion funds to the giant grants, which would then be transferred to the states for dispersal. The bill also repeals the individual mandate as well as the employer mandate; two key taxes Republican lawmakers have pledged to eliminate as part of the new healthcare plan.
Senator John McCain, who cast the definitive ‘no’ vote that cost the GOP their opportunity to repeal and replace Obamacare earlier this year, signaled he’s receptive to the new legislation, but demanded future hearings over the law.